How do you spend £143 Million?

How do you spend £143 Million?

Author
Discussion

PugwasHDJ80

7,522 posts

220 months

Monday 20th October 2014
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Find an investment team/strategy (or open a family office) that will give you a 5-8% interest rate. That would give you circa 5m/year after you've left money in for offsetting RPI. You could probably earn 15% without too much trouble

Set aside £3m to support family and friends. Do not give anyone lump sums

What this does is mean that your extended family and friends will always have support even after you've gone.

instead of doing a "one-off" transaction, you can guarantee security to thos you love for generations.

Use the remainder to buy the houses etc

London424

12,826 posts

174 months

Monday 20th October 2014
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After the usual family stuff I'd do the following:

Buy big enough plot of land for a housing development for me + friends (10).

Then rather than give them any money I'd pay them say 20k a month each so they could afford not to work and do stuff with me (what's the point in being loaded if you don't have people to have fun with).

If I gave them a million quid or so you know some of them would blow and be broke again before you know it... so give them significantly more than they earn now and have it coming in regularly.

Charity...not a penny, I'd go direct to the cause as someone else mentioned. All those make a wish type things I'd be throwing money at...or some kid needing an operation or new legs and stuff.


HOGEPH

5,249 posts

185 months

Monday 20th October 2014
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Huf house, just two bedrooms,can't stand a houseful of guests. On a hill somewhere with a magnificent view, and no light pollution so I can stargaze. Home cinema and very large kitchen. Triple garage.

Car, just an Ariel Atom for the occasional Sunday morning blast, plus a van for putting all the band equipment in, and being able to leave it in there overnight rather than constantly loading and unloading gear.

A replica of my current drum kit that would stay set up in my own studio, the other kit being the gigging kit. (I'd also pay someone to set it up and take it down at gigs so I could drink instead of lifting and shifting).

I wouldn't buy a helicopter, just rent it when the urge to go flying on nice days came upon me.

Vast amounts of fine wine and dining, holidays, new experiences, paying other people to sort all the annoying petty stuff out.

The rest would be spent in an altruistic manner.








boroandy87

168 posts

121 months

Monday 20th October 2014
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Where to start!

I like to think id start with those less fortunate. Id like to think that id invest some money into good projects and people. Not for financial gain, id rather see someone turn their life around and become a better person without money but with financial support.

That being said, I would probably spend more on animals. I love dogs, so I imagine I would open my own sanctuary/day care centre for dogs. Not for profit, and would only employ people with the same ethos towards animals. My old dear would run this.

So I imagine something around £5million for land and buildings.

This leaves £138 million.

As I said previously, I would like to invest in projects. Therefore I would set up a trust lottery which would have money invested and the interest accumulated every year would be spent on projects that I chose and deemed suitable and worthy. As has been mentioned before, I don't like the idea of just giving money away to someone in a suit who promises to spend it on mosquito nets etc. I would literally be taking a team of friends and family to wherever and doing it ourselves. Not all of the time, as mentioned once a year lottery. The aim would be to bring communities back to being proud of the land they come from.

I'm not really an advocate of all this money going abroad. Charity starts here IMO. I want people to be proud of being English again. Not chucking litter on the floor or damaging buildings for a laugh. I want people to see these people and educate them to a new way of thinking so that they themselves stop the next people to do so.

I would probably put £20million here, so say a gain of 5% per year so this would net £1million a year for these projects.

Now we are at £118 million.

I'd like to build my own race track.

I appreciate this probably would be a major hit on the budget but i'm not talking all in one go. As before i'm talking steady progress of funds within a trust to gradually accumulate the funds to do it.

Again, this would not be for profit. Once the trust had accumulated enough money to build the track and facilities, it would then look after any staff employed to run the events. People would not pay to enter, merely it would be limited to a certain number per day, with vehicles available to use freely. Individuals would be scored on their abilities and coached throughout to improve their skills behind the wheel and graded accordingly with races taking places at the end of every day.

I estimate this would require £40 million but obviously it would take a long time to reach then end goal. I feel it would leave a legacy though for people to enjoy.

That leaves £78 million.

£3million would be given out amongst friends and family to clear debts and do as they wish. There would be no more cash amounts given in one lump however.

So to £75 million.

I'd buy a small football team & racing team. No idea how much this would cost so i'll ball park £25 million. They must be self sufficient. No living beyond their means. Occasional investment in infrastructure etc would happen based on any monies accruing interest.

Down to the last £50million.

£45million would be put into a portfolio of property and would be the income for friends and family. Using 5% as a rough guide, this equates to £2.25 million. There would be criteria that would need to be met in order to take your share I.E. charity work etc.

The last £5million would be for me. No question asked. Do as I please. Houses, cars, projects, whatever I want.

spud989

2,738 posts

179 months

Monday 20th October 2014
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Rough to do, somewhat ordered:

Pay off mortgage (100k left)
Pay off brother's mortgage
Give mum/dad/brother however much each they wanted
Buy three dozen (maybe more?) BTLs and give at least a dozen each to my mum/dad/brother - that way they have income set and, crucially, at least a bit of something to occupy their minds with (36 x £125k = £4/5m)
Invest £75m long term and have it generate an annuity
Buy a property portfolio for myself, nothing too crackers - £2m x 5 = £10m
Various cars at each house = £2m

Then to occupy myself:

Follow the World Poker and European Poker tours (and any other majors I could) around the world for a year, staying in all the relevant hotels and doing whatever social bits cropped up along the way (sightseeing and partying, basically) = probably £250k total in buy-ins, though possibly some return on that!

Once I'd gained some perspective I'd probably then set up a variety of business/investment funds/charitable foundations with the £40m or so that's left in order to occupy me on a day-to-day basis.

Oh, and I wouldn't mind going into space, if those tickets are still about and within range!

Hooli

32,278 posts

199 months

Monday 20th October 2014
quotequote all
I've not read all of the thread but getting a Mosquito build & a licence to fly it would use up 10million or so while I think of what to do on other days.

alock

4,224 posts

210 months

Monday 20th October 2014
quotequote all
London424 said:
Then rather than give them any money I'd pay them say 20k a month each so they could afford not to work and do stuff with me (what's the point in being loaded if you don't have people to have fun with).

If I gave them a million quid or so you know some of them would blow and be broke again before you know it... so give them significantly more than they earn now and have it coming in regularly.
And

PugwasHDJ80 said:
Set aside £3m to support family and friends. Do not give anyone lump sums

What this does is mean that your extended family and friends will always have support even after you've gone.

instead of doing a "one-off" transaction, you can guarantee security to thos you love for generations.
I find it odd how so many have so little confidence in their friends and families financial abilities.

I cannot think of anything more patronising than a brother or friend offering to treat me as a charity case for his own entertainment while giving me a monthly allowance.

IanMorewood

4,309 posts

247 months

Monday 20th October 2014
quotequote all
Well first up I would get someone to fix the guttering as its dribbling right above the front door.

After that probably hire a house clearance company to remove everything that's not screwed down in the house to a local storage place.

Then get trades in so that all the little it will only take a few hours jobs (you know the ones that when you start you open a can of worms) can be fixed.

Whilst this is happening it's almost half term and the kids would love a trip so helicopter pickup, first-class flights and a few days at Disney, a few days in the Everglades and then back to Miami.



Jasandjules

69,825 posts

228 months

Monday 20th October 2014
quotequote all
alock said:
I cannot think of anything more patronising than a brother or friend offering to treat me as a charity case for his own entertainment while giving me a monthly allowance.
My OH and I spent a lot of time (too much really given the odds of us winning) trying to work out how to get some people to take the money we would want to give them. For example, we have a friend who is always lacking in cash, but would she take 1m from us to buy herself a home and so on? How do we do so without offending? Obviously some family will be no problems they will be happy, but how do you do so with friends and of course how to do so without them thinking they owe you?!? A tough call.

ecsrobin

17,023 posts

164 months

Monday 20th October 2014
quotequote all
I never do the lottery but for whatever reason my mind said buy a ticket. So I have.

How would I spend it?

£30m set aside for housing requirements around the world / for the family
£30m to purchase cars, I would become a regular travelling the world attending RM auctions and Bonhams buying all kinds of wonderful cars to enter in historic racing.
£20m for aircraft and yacht/boat plus relevant PPL/CPL. (spitfire will need to be purchased, hawker hunter miss demeanour is for sale £750,000 and makes a profit so would work up to that)
£20m set aside to form a motorsports team/mechanics for my fleet of vehicles plus giving new young talent a break in Motorsport.

I'd donate £1m to the RNLI (actually how much is a new lifeboat these days), another £1m to the Royal Air Force association and £1m to go towards any museums that come to me with a good pitch or youth projects.

Leaves me £40m to buy champagne, wine gums, clothes and holidays.

Think that's everything covered?

Edited by ecsrobin on Monday 20th October 21:35

IanMorewood

4,309 posts

247 months

Monday 20th October 2014
quotequote all
About 2.5m for a Tamar Class lifeboat and a little less than 2m for a Shannon.

ecsrobin

17,023 posts

164 months

Monday 20th October 2014
quotequote all
IanMorewood said:
About 2.5m for a Tamar Class lifeboat and a little less than 2m for a Shannon.
I'd best buy a tamar then with the change in my pocket. But what to call it.

Vaud

50,289 posts

154 months

Monday 20th October 2014
quotequote all
Move to Switzerland.
Nice house.
Few cars.
Set up an educational foundation and hire some fun, smart people to work with.
Keep busy.

Joey Ramone

2,150 posts

124 months

Monday 20th October 2014
quotequote all
On second thoughts, maybe two turnips. One here, one in Tuscany.

numtumfutunch

Original Poster:

4,705 posts

137 months

Monday 20th October 2014
quotequote all

Hello everybody - me again

Well thanks for the response, many great ideas which Ive been dwelling on just in case smile

I still have concerns about the kids but have decided on the following path:

Wedge of cash to family - although curious regarding the most tax efficient way to do this

Buy a SInger and pass it off as an auction house classic

As I love skiing and cycling a BFO gaff in the Alps is a given with a garage to suit

A 10 mill "lock up" apartment with secure parking for something tasty in London for anonymity
Similar place in Paris too

Go part time at work and progressively take the p1ss for 6 months to a year before slowly fading away into early retirement with a cover story about getting into day trading

Stay in our current gaff but gradually acquire a decent portfolio of weekend and/or holiday places some of which Id rent out and others Id save for friends and family

The family snotter is my biggest stress
In the short term it needs to carry the 4 of us plus dog around town and to the Alps
The dog probably rules out an AMG S63 so a 3y old Full Fat RR would tick the stealth box
(After I drop off the grid in a few years time its an S600 Pullman and a supercharged L405 for the snow)

In a few years my youngest leaves home then it gets interesting.......


User33678888

1,141 posts

136 months

Tuesday 21st October 2014
quotequote all
alock said:
I find it odd how so many have so little confidence in their friends and families financial abilities.

I cannot think of anything more patronising than a brother or friend offering to treat me as a charity case for his own entertainment while giving me a monthly allowance.
I'd be paying off peoples mortgages and any debts, and helping (buying) properties for close friends and family that don't own. I suppose that is vaguely charitable, but I'm not sure where you got the idea of charity case from. I'd love to give a few good friends £10-20k/month for a year so they could take some time off and enjoy my new found riches. Chances are they'd also end up getting lots of time on track in supercars, and coming on nice holidays. I don't think real friends would be expecting one to make them millionaires just because one had become one.

Crush

15,077 posts

168 months

Tuesday 21st October 2014
quotequote all
Speed up getting my family reunited over in Australia (sister emigrated last year to be with her fiancé)

Get a nice house in Perth, Glastron 289 boat, Ford F-250

Complete my pilot licence

Make sure the family is comfortable financially

About it really, think the £142 million would be wasted on me to be honest.

Bluebarge

4,519 posts

177 months

Tuesday 21st October 2014
quotequote all
numtumfutunch said:
Hello everybody - me again

Well thanks for the response, many great ideas which Ive been dwelling on just in case smile

I still have concerns about the kids but have decided on the following path:

Wedge of cash to family - although curious regarding the most tax efficient way to do this

Buy a SInger and pass it off as an auction house classic

As I love skiing and cycling a BFO gaff in the Alps is a given with a garage to suit

A 10 mill "lock up" apartment with secure parking for something tasty in London for anonymity
Similar place in Paris too

Go part time at work and progressively take the p1ss for 6 months to a year before slowly fading away into early retirement with a cover story about getting into day trading

Stay in our current gaff but gradually acquire a decent portfolio of weekend and/or holiday places some of which Id rent out and others Id save for friends and family

The family snotter is my biggest stress
In the short term it needs to carry the 4 of us plus dog around town and to the Alps
The dog probably rules out an AMG S63 so a 3y old Full Fat RR would tick the stealth box
(After I drop off the grid in a few years time its an S600 Pullman and a supercharged L405 for the snow)

In a few years my youngest leaves home then it gets interesting.......
With £143m and a cash-strapped socialist govt in Paris, you don't want to be going anywhere near France - they have a "wealth tax" that will make your eyes water. Try Switzerland and Monaco instead. If I win half the jackpot, I'll see you there.

petrolsniffer

2,461 posts

173 months

Tuesday 21st October 2014
quotequote all
MLH said:
Buy a moderate size house, no more than 4 bedrooms.

Buy either a Zonda or Huayra, cant see the need for both.

Play lots of golf.

Spend a lot making other people happy.

Not interested in the big houses with swimming pools, boats, planes, constant holidays etc.

That's about it for me. Im just a simple guy with simple needs.
That's alot like my plan apart from golf and the hyper cars they just don't seem to interest me although I bet my mind would be changed after test driving a few.

Infact after it all dies down I'd prob play pc games in my pants for a few weeks.

epom

11,398 posts

160 months

Tuesday 21st October 2014
quotequote all
I'd buy a rally car, then after 6 months when all the money is gone from trying to run it I'd go back to being relatively normal.